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Sarasota and Bradenton: Not all Foreclosures are Created Equal

Posted by Robert Casella on Thursday, March 29th, 2012 at 4:42pm.

Sarasota and Bradenton: Not all Foreclosures are Created Equal

We all know where to get the "best deal" in Sarasota and Bradenton real estate is, right? Foreclosures of course--right? Well, that was actually the subject of another blog, but the short answer to that question was a resounding "maybe." On a related note, the point I want to address in this blog is that not all foreclosures are created equal. When I first immersed myself in the Sarasota Bradenton general real estate market, I received copious and conflicting answers about the difficulty of working with short sales and foreclosures. Some said foreclosures were a "slam dunk", and yet others said it was the worst experience they ever endured on a professional level.

While I seem to be invoking the word "maybe" on a profound basis, you would be right. On one hand, I have put offers in on foreclosures where the paperwork is so ridiculously voluminous that by the time you end up making the offer it is under contract. Did I say that those experiences were particularly aggravating? Well, they were. Differently, I have had some foreclosures that have gone off without a hitch--the bank works with a realtor and a simple AS IS agreement, and it is, for the most part, a standard operation. So, what is the principal culprit of foreclosure experiences being so incredibly disparate in Sarasota and Bradenton (and for the rest of the United States for that matter)? To put it simply, it is a lack of uniformity in the process of handling the foreclosures. With so many private banks experiencing the foreclosure bug, every bank handles it differently. While publicly owned foreclosures have managed to create some uniformity in the process, the paperwork is enough to make a forest of trees uproot and take up arms.

The disparity in process is still navigable--after all, every realtor in Sarasota and Bradenton wants to do one thing, and that's sell homes. Foreclosures and short sales, at least for the foreseeable future, are here to stay and will remain a large percentage of the listings available for sale. And so I did--my very first foreclosure the sale went off without a hitch and the home even appraised for more than it was sold for. Now that's what I am talking about. Who said being a realtor in Sarasota and Bradenton was so bad? Not me! 


Robert Casella, CLHMS - Licensed Realtor
Certified Luxury Home Specialist

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